Sports betting in Washington, D.C. increased significantly once FanDuel took over for the ill-fated GamebetDC in March. FanDuel is still essentially a monopoly, however, and is the only sportsbook available throughout the city. The BetMGM sports betting app is available around a two-block radius of Nationals Park. Caesars’ sports betting app can be used within two blocks of Capital One Arena.
The Council of the District of Columbia is trying to make it possible for more online sportsbooks to operate in the city. CEO of the Washington Spirit, Kim Davis, believes more sportsbooks are needed in the city. She penned a column on the subject for the team’s website promoting the idea. Women’s soccer sports betting proponents agree with Davis.
The concept of adding more sportsbooks in Washington, D.C. is being looked at by the Council. Councilmember Kenyan McDuffie’s Sports Wagering Amendment Act of 2024 will do exactly that. If it passes, the best online sportsbook would be able to partner with local teams or arenas and offer online sports betting throughout the city.
“This week, the DC City Council will consider legislation to open its sports betting market to multiple regulated sportsbooks,” Stone wrote. “This has the potential to create significant business growth opportunities for women and minority-owned businesses in the city. As the female CEO of DC’s premier women’s professional sports team, I see this as a huge step forward in ensuring that the District’s core values of equality and fairness are reflected in our sports economy.”
Stone believes the women’s soccer sports betting partnership is a solid one. There is a lot of money to be made with sportsbook partnerships.
Sportsbooks Will Pay to Partner
Since sportsbooks operating in the city need a partner, the potential is there for teams and arenas to make good money. That wasn’t lost on Stone.
“When only one sportsbook controls the market, there is less incentive to create lucrative marketing deals and partnerships,” she wrote. “These partnerships could be worth tens of millions of dollars, especially for local businesses that are more likely to be women, minority, and Black-owned in DC.
“Under the current system, minority-owned businesses must compete for a limited budget from a single sportsbook. In a competitive market, multiple sportsbooks would vie for the chance to partner with organizations like ours, expanding the opportunities for everyone involved.”
Stone said open betting markets perform better than those controlled by one sportsbook. Each sportsbook has its own followers who prefer to get their scores and odds from it. Sports bettors will play where they have to, although they may not like it. Having multiple sportsbooks will likely increase the betting handle. That leads to more money for the city and the teams.
The women’s soccer sports betting partnership could be profitable for both parties. Stone was hopeful the Council would pass the bill to help make that happen. The other teams in the city have to be in favor of it. There is too much money to be made for it not to be passed.
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